Select Harvests Limited · ASX:SHV
Select Harvests — Shareholder Meeting (February 2025)
21 slides from Select Harvests's shareholder meeting presentation, Feb 18, 2025
Slide 1: 2024 Annual General Meeting
2024 Annual General Meeting 18 February 2025 0
Slide 2: Disclaimer and Basis of Preparation
DISCLAIMER AND BASIS OF PREPARATION This presentation is provided for information purposes only and has been prepared using information sourced by the company. The information contained in this presentation is not intended to be relied upon as advice to investors and does not take into account the i
Slide 3: Agenda
AGENDA 1. Chairman’s Address 2. Managing Director’s Address 2024 Performance Transformation Progress Outlook 3. Business of the AGM 2
Slide 4: Chairman's Address
a . “chairman's Address
Slide 5: Travis Dillon - Chairman
Travis Dillon - Chairman 4
Slide 6: Board of Directors
Board of Directors Travis Dillon David Surveyor Guy Kingwill Margaret Zabel Chairman Managing Director & CEO Non-Executive Director Non-Executive Director Appointed May 2022 Appointed February 2023 Appointed November 2019 Appointed October 2022 Michelle Somerville Paul van Heerwaarden Liam Nolan Non
Slide 7: Chairman's Address
a . “chairman's Address
Slide 8: Managing Director's Address
Managing Director’s Address 7
Slide 9: Safety and Sustainability – Continued Focus
Safety and Sustainability – Continued Focus Total Recordable Injury Frequency Rate Injuries per million hours worked 8
Slide 10: FY24 Financial Results
FY24 Financial Results • NPAT increases by $116m from prior year • 2024 crop - 29,527MT is a record crop with higher pricing at $7.69/kg NPAT • Year-on-year reduction in total production costs – decrease of 3% based on $1.5m 29,000MT crop volume • Revenue $337m • Capital Raise of $80m less transacti
Slide 11: Key Results Drivers – Volume
Key Results Drivers – Volume • The 2024 crop recovers – Excellent SA and Vic, NSW Almond Volume was disappointing MT 28,250 28,312 29,527 • NSW 4 wet seasons in a row with rain above 550mm (2x 22,690 23,250 the average) and therefore continues to disappoint with 19,771 low yield and trees struggling
Slide 12: Key Results Drivers – Price
Key Results Drivers – Price • Prices are back to where they were 4-5 years ago • High SHV quality crop supports higher price mix • Global demand is consuming available supply - US carry-in volumes low at 500m lbs on lower quality - 2024 crop forecast 2.6-2.7b lbs - US defects running at approx. 3% (
Slide 13: Key Drivers – Total Production Cost
Key Drivers – Total Production Cost • Total Cost of Production reducing as initiatives take effect • SHV’s inflationary costs are running at 3.4% per annum, Normalised reflecting the Australian economy – Reduced labour ($3.2m) and fertiliser costs ($5.7m) – Water costs decreased due to lower pricing
Slide 14: Strategy & Transformation
STRATEGY & TRANSFORMATION 13
Slide 15: Strong progress in Sales, Processing and Horticulture.
Strong progress in Sales, Processing and Horticulture. Strategic Priorities Enablers Substantially greater Leadership in processing Maximise returns from Innovate to drive Safety, efficient and almond volume scale and efficiency almond crops step-out growth scalable processes/ops F23 F24 F23 F24 F23
Slide 16: Processing Capacity Increase – Project Optimus 10,000MT
Processing Capacity Increase – Project Optimus 10,000MT Phase 1: Operational in 2025 Shear Roller Speed Automation Line Balancing Automation (Hulling) Colour Sorter upgrade Phase 2: Operational 2026 Balance shell decks Capacity upgrade decks 7-9 Kernel Conveyance capacity upgrade 15
Slide 17: PMO – Strategy Execution and Discipline
PMO – Strategy Execution and Discipline Execution momentum building with growing profit impact Execution The 2024 P&L Impact Profit Impact Millions AUD FY23 FY24 YTD FY25 16
Slide 18: Outlook
OUTLOOK 17
Slide 19: FY25 Outlook – Expecting positive year
FY25 Outlook – Expecting positive year SHV Crop Californian Crop Margin • We experienced normal but • Peak volume seems to have • Strong global demand with quick Bloom conditions passed as trees removed prices increasing above • Increased bee drops supported • Weather at bloom does not 2024 and fore
Slide 20: Key Messages
Key Messages • Positive shift in profit result • Capital raise has re-strengthened the balance sheet FY2024 • Substantive progress on transformation initiatives • PMO tracking well • Sales capturing price increases • Maximising our yields and profitably add 3rd SHV focused on Growing party supply Or
Slide 21: Thank You
THANK YOU Please direct any queries to: David Surveyor Liam Nolan Andrew Angus Managing Director CFO and Company Secretary Investor Relations +61 3 9474 3544 +61 3 9474 3544 +61 402 823 757 Please note that background material/data regarding the global almond industry can be found on the Select Harv
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